Peter Manser FCA DChA
- Head of Audit and Assurance, and Academies and Education Partner
- +44 (0)330 124 1399
- Email Peter[email protected]
Suggested:Result oneResult 2Result 3
Sorry, there are no results for this search.View all people
Capital funding for academy trusts is in short and sharp supply. Every academy school receives an annual allocation (Devolved Formula Capital) but this is simply designed for maintenance of buildings and small capital projects.
Multi-Academy Trusts (MATs) with over 5 schools and 3,000 pupils are lucky enough to receive the School Condition Allowance (SCA) but this has to be used across the entire Trust estate allowing MATs to decide how best to allocate the funding. Therefore should an urgent issue arise, the funding may not be available if already utilised or allocated.
Finally, Trusts who are not applicable for the SCA are allowed to bid for the Condition Improvement Fund (CIF) but this can be very competitive and the funding is only available once every year (should you be successful with your bid) and therefore not to be used for urgent issues.
Thankfully there is some additional capital funding available called Urgent Capital Support (UCS) fund. This will help those schools which are left with a school estate that is not meeting statutory requirements, is not fit for purpose and cannot wait until the next CIF bidding round.
However, the UCS is not available to those schools who have access to SCA monies. It is expected the MAT will manage these funds and provide emergency support if required.
If your school has an issue that meets the above criteria then you should consider applying for UCS funding. More details of which can be found here.
Join over 8000 businesses and individuals who receive our complimentary e-bulletins by signing up here.
Share this article
Our complimentary newsletters and event invitations are designed to provide you with regular updates, insight and guidance.
You can unsubscribe from our email communications at any time by emailing [email protected] or by clicking the 'unsubscribe' link found on all our email newsletters and event invitations.